The company supplies its products to 9 out of top 10 global tyre manufacturers and to all of the top 11 tyre, paint, footwear and cosmetics manufacturers in India
The center will be set at Thiruvananthapuram campus of Tata Elxsi.
The valuation of the company was estimated to be up to $3 billion.
According to a BSE filing, the parties to the proposed transaction, for which a legally binding memorandum of understanding had previously been signed, had "executed a Share Purchase Agreement and finalized the transaction."
Acquisition done for Rs 18.45 crore.
The shares of the company listed at 17.14% premium on NSE at Rs 164 and 16.43% premium on BSE at Rs 163 per share.
Vedanta is the parent company of Hindustan Zinc.
Floor price for the offer-for-sale set at Rs 2,450 per share.
HDFC Life (+2.90%) is the top Nifty 50 gainer with 3% gain.
Global cues are somewhat positive.